vs
美森（MATX）与赫曼米勒（MLKN）财务数据对比。点击上方公司名可切换其他公司
赫曼米勒的季度营收约是美森的1.1倍（$955.2M vs $851.9M），美森净利率更高（16.8% vs 2.5%，领先14.3%），赫曼米勒同比增速更快（-1.6% vs -4.3%），美森自由现金流更多（$42.2M vs $34.0M）
美森公司（Matson, Inc.）是美国知名航运服务企业，总部位于夏威夷州火奴鲁鲁，成立于1882年。旗下子公司美森航运主营跨太平洋海运业务，服务覆盖夏威夷、阿拉斯加、关岛、密克罗尼西亚、太平洋诸岛、中国及日本等地区。
米勒诺尔公司以赫曼米勒之名开展业务，是美国知名办公家具、设备及家居产品制造商。其推出的埃隆椅、野口勇茶几、棉花糖沙发、米拉椅、伊姆斯休闲椅等产品享誉全球，此外该公司还在1968年研发出了现代办公隔间。
MATX vs MLKN — 直观对比
营收规模更大
MLKN
是对方的1.1倍
$851.9M
营收增速更快
MLKN
高出2.7%
-4.3%
净利率更高
MATX
高出14.3%
2.5%
自由现金流更多
MATX
多$8.2M
$34.0M
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $851.9M | $955.2M |
| 净利润 | $143.1M | $24.2M |
| 毛利率 | — | 39.0% |
| 营业利润率 | 16.9% | 5.1% |
| 净利率 | 16.8% | 2.5% |
| 营收同比 | -4.3% | -1.6% |
| 净利润同比 | 11.8% | -29.0% |
| 每股收益（稀释后） | $4.47 | $0.35 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收MATXMLKN
| Q4 25 | $851.9M | $955.2M | ||
| Q3 25 | $880.1M | $955.7M | ||
| Q2 25 | $830.5M | — | ||
| Q1 25 | $782.0M | — | ||
| Q4 24 | $890.3M | — | ||
| Q3 24 | $962.0M | — | ||
| Q2 24 | $847.4M | — | ||
| Q1 24 | $722.1M | — |
净利润MATXMLKN
| Q4 25 | $143.1M | $24.2M | ||
| Q3 25 | $134.7M | $20.2M | ||
| Q2 25 | $94.7M | — | ||
| Q1 25 | $72.3M | — | ||
| Q4 24 | $128.0M | — | ||
| Q3 24 | $199.1M | — | ||
| Q2 24 | $113.2M | — | ||
| Q1 24 | $36.1M | — |
毛利率MATXMLKN
| Q4 25 | — | 39.0% | ||
| Q3 25 | — | 38.5% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
营业利润率MATXMLKN
| Q4 25 | 16.9% | 5.1% | ||
| Q3 25 | 18.3% | 5.6% | ||
| Q2 25 | 13.6% | — | ||
| Q1 25 | 10.5% | — | ||
| Q4 24 | 16.6% | — | ||
| Q3 24 | 25.2% | — | ||
| Q2 24 | 14.7% | — | ||
| Q1 24 | 5.1% | — |
净利率MATXMLKN
| Q4 25 | 16.8% | 2.5% | ||
| Q3 25 | 15.3% | 2.1% | ||
| Q2 25 | 11.4% | — | ||
| Q1 25 | 9.2% | — | ||
| Q4 24 | 14.4% | — | ||
| Q3 24 | 20.7% | — | ||
| Q2 24 | 13.4% | — | ||
| Q1 24 | 5.0% | — |
每股收益（稀释后）MATXMLKN
| Q4 25 | $4.47 | $0.35 | ||
| Q3 25 | $4.24 | $0.29 | ||
| Q2 25 | $2.92 | — | ||
| Q1 25 | $2.18 | — | ||
| Q4 24 | $3.69 | — | ||
| Q3 24 | $5.89 | — | ||
| Q2 24 | $3.31 | — | ||
| Q1 24 | $1.04 | — |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $141.9M | $180.4M |
| 总债务越低越好 | $361.2M | $1.3B |
| 股东权益账面价值 | $2.8B | $1.3B |
| 总资产 | $4.6B | $3.9B |
| 负债/权益比越低杠杆越低 | 0.13× | 1.02× |
8季度趋势，按日历期对齐
现金及短期投资MATXMLKN
| Q4 25 | $141.9M | $180.4M | ||
| Q3 25 | $92.7M | $167.2M | ||
| Q2 25 | $59.1M | — | ||
| Q1 25 | $122.0M | — | ||
| Q4 24 | $266.8M | — | ||
| Q3 24 | $270.3M | — | ||
| Q2 24 | $168.2M | — | ||
| Q1 24 | $25.9M | — |
总债务MATXMLKN
| Q4 25 | $361.2M | $1.3B | ||
| Q3 25 | $370.9M | $1.3B | ||
| Q2 25 | $341.3M | — | ||
| Q1 25 | $351.1M | — | ||
| Q4 24 | $361.2M | — | ||
| Q3 24 | $370.9M | — | ||
| Q2 24 | $381.0M | — | ||
| Q1 24 | $390.8M | — |
股东权益MATXMLKN
| Q4 25 | $2.8B | $1.3B | ||
| Q3 25 | $2.7B | $1.3B | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.6B | — | ||
| Q4 24 | $2.7B | — | ||
| Q3 24 | $2.6B | — | ||
| Q2 24 | $2.4B | — | ||
| Q1 24 | $2.4B | — |
总资产MATXMLKN
| Q4 25 | $4.6B | $3.9B | ||
| Q3 25 | $4.6B | $3.9B | ||
| Q2 25 | $4.5B | — | ||
| Q1 25 | $4.5B | — | ||
| Q4 24 | $4.6B | — | ||
| Q3 24 | $4.4B | — | ||
| Q2 24 | $4.3B | — | ||
| Q1 24 | $4.2B | — |
负债/权益比MATXMLKN
| Q4 25 | 0.13× | 1.02× | ||
| Q3 25 | 0.14× | 1.02× | ||
| Q2 25 | 0.13× | — | ||
| Q1 25 | 0.13× | — | ||
| Q4 24 | 0.14× | — | ||
| Q3 24 | 0.15× | — | ||
| Q2 24 | 0.16× | — | ||
| Q1 24 | 0.16× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $176.9M | $64.6M |
| 自由现金流经营现金流 - 资本支出 | $42.2M | $34.0M |
| 自由现金流率自由现金流/营收 | 5.0% | 3.6% |
| 资本支出强度资本支出/营收 | 15.8% | 3.2% |
| 现金转化率经营现金流/净利润 | 1.24× | 2.67× |
| 过去12个月自由现金流最近4个季度 | $153.7M | — |
8季度趋势，按日历期对齐
经营现金流MATXMLKN
| Q4 25 | $176.9M | $64.6M | ||
| Q3 25 | $175.6M | $9.4M | ||
| Q2 25 | $105.6M | — | ||
| Q1 25 | $89.0M | — | ||
| Q4 24 | $174.7M | — | ||
| Q3 24 | $248.6M | — | ||
| Q2 24 | $307.9M | — | ||
| Q1 24 | $36.6M | — |
自由现金流MATXMLKN
| Q4 25 | $42.2M | $34.0M | ||
| Q3 25 | $92.4M | $-21.3M | ||
| Q2 25 | $19.3M | — | ||
| Q1 25 | $-200.0K | — | ||
| Q4 24 | $49.3M | — | ||
| Q3 24 | $189.0M | — | ||
| Q2 24 | $238.1M | — | ||
| Q1 24 | $-18.7M | — |
自由现金流率MATXMLKN
| Q4 25 | 5.0% | 3.6% | ||
| Q3 25 | 10.5% | -2.2% | ||
| Q2 25 | 2.3% | — | ||
| Q1 25 | -0.0% | — | ||
| Q4 24 | 5.5% | — | ||
| Q3 24 | 19.6% | — | ||
| Q2 24 | 28.1% | — | ||
| Q1 24 | -2.6% | — |
资本支出强度MATXMLKN
| Q4 25 | 15.8% | 3.2% | ||
| Q3 25 | 9.5% | 3.2% | ||
| Q2 25 | 10.4% | — | ||
| Q1 25 | 11.4% | — | ||
| Q4 24 | 14.1% | — | ||
| Q3 24 | 6.2% | — | ||
| Q2 24 | 8.2% | — | ||
| Q1 24 | 7.7% | — |
现金转化率MATXMLKN
| Q4 25 | 1.24× | 2.67× | ||
| Q3 25 | 1.30× | 0.47× | ||
| Q2 25 | 1.12× | — | ||
| Q1 25 | 1.23× | — | ||
| Q4 24 | 1.36× | — | ||
| Q3 24 | 1.25× | — | ||
| Q2 24 | 2.72× | — | ||
| Q1 24 | 1.01× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
MATX
| Ocean Transportation Segment | $704.2M | 83% |
| Logistics Services Segment | $147.7M | 17% |
MLKN
| Workplace | $309.9M | 32% |
| Global Retail Segment | $275.8M | 29% |
| International Contract Segment | $170.9M | 18% |
| Performance Seating | $101.1M | 11% |
| Lifestyle | $52.9M | 6% |
| Other Products | $44.6M | 5% |
